August 1, 2002 

Bankruptcy Reform:

The morally bankrupt Congress
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Oppose Anti-Consumer Bankruptcy Bill
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Held at ballpoint - Another bankrupt idea from Congress
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Absent superheroes not comical to bankruptcy judge
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Swindler's mom says she sold comic books
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Corporate Reform:

Tech learns lessons of accounting woes
(NYT: separate free registration required)

GE set to treat stock option costs as expenses
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Deadbeat CEOs Plague Companies
(WSJ: separate paid subscription required)

Houlihan launches board advisory service
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Justice starts looking into AOL Time Warner
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GE tightens governance rules
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Telecoms:

From debt to equity - some hot-button issues in bankruptcy law
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SBC Comments Irk Embattled Birch Telecom
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Judge approves Star Telecom's liquidation plan
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Global Crossing's Chapter 11 racks up legal fees of $13m
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Sour Tones From The Baby Bells
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Global Crossing Extends Auction Date
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Broadband Wireless International Corporation Gets Confirmation Order
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Global Crossing auction put off for another two days
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Qwest seeks settlement with SEC
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Verizon reports a $2bn loss
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France Telecom not ruling out MobilCom bankruptcy
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PhyCor, Inc. Emerges From Chapter 11 Bankruptcy
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Preconfirmation Transfers of Property Are Deemed Exempt from Stamp Taxes And Similar Taxes
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Navigating Directors' Duties in Insolvency

Going-Out-of-Business Sales in Bankruptcy -- Protecting the Landlord -- A Survival Guide

Polaroid:

Polaroid sale starts new chapter
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Bank One completes Polaroid deal
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Ex-American Rice executives accused of bribery

Ziff Davis expected to restructure soon
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Airlines:

Vanguard customers up in the air
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Travelers scramble after Vanguard Airlines' bankruptcy
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Six airlines step up for Vanguard travelers
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Asbestos:

Court ruling deflates Sealed Air
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Federal-Mogul Asbestos Cases Stay in State Courts
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WorldCom:

Two Former WorldCom Execs Arrested
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Bankruptcy Might Whip WorldCom into Shape
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WorldCom pleads with US courts for extra law firms
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Worldcom Execs May Be Charged
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WorldCom Reaches Tentative Deal
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Lawmakers aim at shielding employees of bankrupt firms
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Prepetition Settlement of Fraud Claims Substitutes Dischargeable Contract Claims For Potentially Nondischargeable Tort Claims
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Special Metals Corp. Obtains Waiver; Extension of Exclusivity Period Approved
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Judge OKs Montgomery Ward reorg plan
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Economy:

Economy Grew Only 1.1% in 2nd Quarter, Much Less Than Expected
(NYT: separate free registration required)

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Comdisco Plan of Reorganization Confirmed by Bankruptcy Court; Company Set to Emerge From Chapter 11 in August 2002
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Discharge Denied Despite Unwinding Of Fraudulent Transfers
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Hotel, condos proposed for Dearborn Jacobson's
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Court-Approved Professionals Not Insulated from Avoidance Liability

Lawsuits against brokers soar

Answers Sought on Farmland Co-Op Bankruptcy
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Energy:

Williams Gets Financing From Lehman, Buffett; Pledges Assets
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Williams in talks to avert bankruptcy
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PG&E Pays $4.3M to Settle Claims
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PG&E Corp. Reports Second Quarter Financial Results
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Subsidiary of Valero Energy Corp. Stands to Gain from Others' Debt
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Spitzer looks into executives' stock options
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Judge approves sale of Intracel
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Adelphia:

Adelphia Trustee Appoints Panel
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Law Firms:

The Am Law 200: The Second Hundred's Hidden Strength
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Advisers scrambled for IBM-PwC
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Radcliffes chief executive resigns
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Shearman Leaves Singapore As Firms See Setbacks in Asia
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Two NY Firms Join Forces
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Jazzland's reorganization approved
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Simon's investment firm loses $65 million fraud suit
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Founder of Scottsdale, Ariz.-Based Oil Company Files for Bankruptcy
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Debt load, economy push too many into bankruptcy
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Law Student Wins £30,000 In Suit Over Course Quality
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American HomePatient files Chapter 11
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs - 90 Jobs - Last Updated July 22, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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DIP Dimensions: Pittsburgh Penguins
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A Practical Primer on Preferences

Letter from Delaware: No relief near for Delaware
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Enron:

Enron creditors appraise assets in Brazil
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Hidden Debts, Deals Scuttle Last Chance
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For sale: the house that Enron built
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UK bankers charged on Enron still not in US hands
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Sale Price for Houston's Enron Center South Is Expected to Top $100 Million
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Senator Says Merrill Lynch Helped Enron 'Cook Books'
(NYT: separate free registration required)

Judge gives more time to split cash

Vincent & Elkins rides out Enronitis as oil/gas sector sends its regards
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Rubin, Lieberman and Lay
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Pressure applied to Chase

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Delaware Case Update
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Southeast Banking Corp. Trustee Announces Payment of Additional Distribution to Pay Creditors and Bondholders in Full
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Bank gets Wash Depot
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Drama at Bertelsmann unsettles Napster
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Company helped by AEDC declares bankruptcy
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Accounting:

Ex-Andersen partners forfeit status
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Double digit growth revealed at Deloitte
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FASB Issues FAS 146, Ending Six-Year Project
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Sour note as broke Asians face the music
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Japan:

Suicide rate a rising crisis
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Canada:

General picks buyer for Stoddart Kids
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Uruguay:

Uruguay’s bank closure sparks fears for future
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Germany:

Deutsche Bank bad loans double
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Israel:

CPAs report 10% increase in firms facing bankruptcy
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England:

Bradford City FC faces crucial creditor vote
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